30 August 2023, GBP/USD
GBPUSD trading plan:
British consumers increased their borrowing by less than expected in July in a possible sign of caution among households as borrowing costs rise, Bank of England fresh data showed. Unsecured lending to consumers rose by 1.191 billion pounds in net terms, less than the 1.3-billion-pound increase which was the median forecast in a Reuters poll of economists, and down from the 1.637 billion pounds rise in June. The pace of growth in consumer credit over the 12 months to July slowed to 7.3%, the slowest increase since December last year. The BoE data added to signs of a slowdown in the housing market as mortgage approvals by banks and building societies dropped by more than 5,000 on the month to 49,444.
Investment idea: sell 1.2670 and take profit 1.2580.
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